Automatic Loss Recovery System (ALR) - read this first

PipPoppy · Post by **PipPoppy** » Wed Jul 09, 2014 1:09 pm

Testing this EA on all pairs - 4H charts.
Three trades have just opened - AUDCAD & EURCAD both short and CADJPY to the long side.
Looking at the charts all trades opened as per system rules.
Pending Buy stop and Sell stop ALR trades also placed with increased lot sizes.

The EA appeared to have a few issues opening the initial trades and then modifying the pending orders as a result of the platform (GP) losing connection at the same time.

All looking good so far and will keep you posted with results.

PipPoppy · Post by **PipPoppy** » Wed Jul 09, 2014 1:12 pm

Now I am confused - Wealthmaster has just posted a second EA.
Which EA are we meant to be testing - SpiderX or Wealthmaster???

Post by **Dewey McG** » Wed Jul 09, 2014 1:29 pm

wealthmaster » Wed Jul 09, 2014 9:07 am wrote:Attached is the exact copy of Dustin’s ALR EA(spreads and swaps are taken into consideration). It is used with manual trading just like explained in Dustin’s Videos

I have been working with my programmer for 2 weeks now, Once in a while I find some bug in an EA and I ask my programmer to update it, But I believe this is now BUG free, But still if you find any BUG,let me know.

Working of this EA is self-explanatory, but still I will try to explain.

Open a trade manually without setting up stoploss you can set your takeprofit and then attach the EA.

Inputs

Ticket: Leave it as -1 and it will detect itself (Unless you are placing a 2nd trade in a single currency pair) After placing a 2nd trade in a single pair open new chart and attach EA with it’s ticket number with different magic number so that EA can differentiate between those series of trades)

*2nd trade= Let say you buy a pair and it hit stoploss and in ALR mode( so It is opening series of trades to recover from a loss) meanwhile you get another entry signal on the same currency pair from your manual trading system, You can take this new signal and open new chart, attach EA with it’s trade ticket number and with different Magic number so EA can differentiate between the 1st trade and its series of trades and 2nd trade and it’s series of trades.

XYZ: Is the amount in USD that you want to make in worst case scenario i.e. after going into ALR mode.

Stoploss: put the stoploss in pips i.e, ALR zone

Takeprofit : Put the take profit in pips ( usually 3 times the stoploss ) This Take profit only becomes active when our stoploss is hit ( i.e when it goes into ALR mode)

Max Order : maximum number of orders

Magic number: Leave it as it is unless you are placing a 2nd trade.

Enjoy Guys /Gals with my Paid EA

Awesome! It is amazing how much talent there is on this forum!

Please start a new thread under EA's with this. I would also suggest sending Steve a PM so he can tell everyone.

Post by **Dewey McG** » Wed Jul 09, 2014 1:31 pm

PipPoppy » Wed Jul 09, 2014 9:12 am wrote:Now I am confused - Wealthmaster has just posted a second EA.
Which EA are we meant to be testing - SpiderX or Wealthmaster???

We3althmaster'S EA is a trade manager. You can use it with your own strategies.

The other 2 are similar. test any and all, just don't try on a live account yet.

Post by **SpiderX** » Wed Jul 09, 2014 1:47 pm

i am gonna be a party pooper here...
but in my book, if the orginal owner of this: Dustin has not given consent for wealthmaster to distribute this, it constitutes as stealing when we download it.

If you have sold an EA to someone without giving him any permission to distribute it, then you find him distributing it for free in forums....how would you feel ?

That doesnt sit quite right with me, so will pass on this.
But if it is fine with you, please do not let my thoughts on this impose on you.

I will work on an alternative stand-alone over the weekend.

Cheers

Post by **Dewey McG** » Wed Jul 09, 2014 1:54 pm

SpiderX » Wed Jul 09, 2014 9:47 am wrote:i am gonna be a party pooper here...
but in my book, if the orginal owner of this: Dustin has not given consent for wealthmaster to distribute this, it constitutes as stealing when we download it.

If you have sold an EA to someone without giving him any permission to distribute it, then you find him distributing it for free in forums....how would you feel ?

That doesnt sit quite right with me, so will pass on this.
But if it is fine with you, please do not let my thoughts on this impose on you.

I will work on an alternative stand-alone over the weekend.

Cheers

You may be right, but I understood it differently. If the EA Wealthmaster posted is an exact copy of Dustin's he stole hos code, that would be a problem. From his other posts I assumed he and his programmer were taking the concept, which Dustin did NOT originate, and were able to code a trade manger to do the same thing.

Hopefully Wealthmaster can clear this up

Post by **SpiderX** » Wed Jul 09, 2014 1:55 pm

Dewey McG » Wed Jul 09, 2014 9:54 pm wrote:
You may be right, but I understood it differently. If the EA Wealthmaster posted is an exact copy of Dustin's he stole hos code, that would be a problem. From his other posts I assumed he and his programmer were taking the concept, which Dustin did NOT originate, and were able to code a trade manger to do the same thing.

Hopefully Wealthmaster can clear this up

Agreed.

Post by **tex** » Wed Jul 09, 2014 2:18 pm

Ah perfect ! Thanks Wealthmaster, will have a look

kotsh · Post by **kotsh** » Wed Jul 09, 2014 2:43 pm

SpiderX » Wed Jul 09, 2014 11:55 pm wrote:
Dewey McG » Wed Jul 09, 2014 9:54 pm wrote:
You may be right, but I understood it differently. If the EA Wealthmaster posted is an exact copy of Dustin's he stole hos code, that would be a problem. From his other posts I assumed he and his programmer were taking the concept, which Dustin did NOT originate, and were able to code a trade manger to do the same thing.

Hopefully Wealthmaster can clear this up
Agreed.

Thanks to all for sharing the EA with us!

I don't think wealthmaster has shared the ORIGINAL ALR EA from Dustin Pass.

First, wealthmaster has mentioned that he has been working with his programmer for 2 weeks to create this EA.
Second, he shared the source code of the EA which I am sure Dustin wouldn't have done.

last, if you attended one of Dustin's webinars, there he explained how this EA will not work if it is attached to an account other than the original buyer. The license that comes with the EA is bound to an Ip address (VPS) and account number/broker. Somehow like windows license, even if you have the original CD, it is useless without the license.

Post by **SpiderX** » Wed Jul 09, 2014 2:44 pm

Hi all,

On second thoughts, it is quite likely that i have made a mistake and jumped the gun.
It is quite unlikely that wealthmaster have source code from Dustin.
My misunderstanding was when he mentioned "Paid EA".
Apologies for any alarm caused and to all concerned !

Cheers